Turkish banking sector updates credit evaluation and IBAN transfer warnings

Banking practices in Turkey are undergoing significant shifts due to new automated credit evaluation algorithms and increased risks associated with digital money transfers.

New banking systems now utilize advanced algorithms to analyze credit card statements and account movements in detail. Even consumers with high credit scores may face loan rejections if their spending patterns trigger risk flags. Key behaviors that can lead to automatic rejection include making payments for gambling or betting platforms, performing frequent IBAN transfers without providing descriptions, and maintaining a significant discrepancy between declared income and monthly spending.

Simultaneously, experts are warning of the financial dangers of incorrect IBAN entries during mobile and internet banking. If funds are sent to a valid but incorrect account, the money is not automatically returned to the sender. While banks can initiate a request for the return of funds by contacting the recipient's bank, the process requires the recipient's consent. If bank-mediated resolution fails, individuals may need to pursue legal action under laws regarding unjust enrichment, making it vital to keep all transaction receipts and communication records.